We’ve spent years building a digital fortress. With state-of-the-art MPC keyless technology and transparent Proof of Liabilities, the SwissBorg app is one of the most secure places in the world to store your crypto wealth. Our team never stops working to keep your digital assets safe from digital threats.
But as the crypto industry matures, the threats are shifting from the digital world to the physical one.
You may be aware of the rising trend of "physical crypto attacks." These are not hackers behind a screen; these are real-world situations involving extortion, coercion, or what the industry calls the "$5 wrench attack."
At SwissBorg, we believe protecting our community means protecting you, not just your account.
Withdrawal Protection: Removing the Incentive
The primary goal of a physical attack is an instant payout. The attacker relies on fear to force an immediate transfer.
Withdrawal Protection is designed to break this cycle.
When you activate Withdrawal Protection, you are applying a strict, unbreakable Time-Lock on all crypto withdrawals.
- It creates a mandatory waiting period for any crypto assets leaving your account.
- It cannot be bypassed. Once set, you cannot withdraw funds instantly.
If you are ever put in a compromising situation, this feature becomes your shield. It signals to any potential threat that accessing your funds is technically impossible.
How Withdrawal Protection Works
We have designed this to be a "Set and Forget" safety net.
- Activate: Toggle Withdrawal Protection in your security settings.
- The Lock: A fixed delay period is applied to crypto asset withdrawals. The period is in your control. You can set it from one to 90 days.
- The Protection: During this delay, funds cannot be moved. This buys you the most valuable asset: Time.
Security That Empowers You
We don’t want to limit your freedom; we want to secure it. By voluntarily adding this delay to your crypto asset withdrawals, you are effectively declaring that your wealth is off-limits to coercion.
Your SwissBorg account is already fortified against hackers. With Withdrawal Protection, it is now fortified against the real world.
Activate Withdrawal Protection today. Secure your wealth, and protect yourself.
How to Activate Withdrawal Protection
Secure your account in seconds with our simple "Set & Forget" setup.
Once you have updated to the latest app version, activating your shield is straightforward:
1. Go to your Profile: From the Profile icon on the navigation bar of the app.
2. Access Security: Select Security from the menu options under Your Account.
3. Toggle Protection and Set Delay: Locate the Withdrawal Protection option, tap this and you will find the toggle. It will be off by default. Tap to enable it. You can then choose your withdrawal delay - from one to up to 90 days. Tap Save Preferences.
4. Confirm the Lock: You will see a screen titled "Activate Withdrawal Protection?". This explains that withdrawals will now require a mandatory waiting period.
5. Finalise: Tap the Activate button to confirm.
6. Stay Protected: Your status will update to Active. From this moment on, any attempt to withdraw funds will trigger the safety timer, giving you immunity against forced immediate transfers.
You may deactivate Withdrawal Protection at any time by returning to the settings and selecting the toggle to off. Your app will show you the countdown (the same as the Withdrawal Protection delay had been previously set to). You will only be able to withdraw crypto assets without delay once this period has completely expired.
Frequently Asked Questions (FAQ)
Q: What happens if I am forced to unlock my phone and withdraw funds by an attacker?
A: This is exactly what Withdrawal Protection is designed for. Even if an attacker forces you to log in and attempt a withdrawal, the app will enforce the mandatory delay you have selected. The funds cannot be moved before that period is up. This removes the attacker’s incentive, as they cannot withdraw with your assets, protecting you from immediate physical extortion.
Q: Can I bypass the delay if I need my funds immediately?
A: No. For your safety, the delay cannot be bypassed, not even by SwissBorg support. If it could be bypassed, an attacker could force you to use that bypass method. This strict "no exceptions" rule is what makes the feature a true deterrent against physical threats.
Q: I already use Passkeys and Biometrics. Do I really need this?
A: Yes. Passkeys and biometrics are excellent for proving digital identity (preventing hackers from logging in remotely). However, they cannot stop an attacker who is physically present and forcing you to use your own FaceID. Withdrawal Protection is the specific defense for that physical scenario.
Q: How does this fit with SwissBorg’s other security measures?
A: SwissBorg uses a "Defense in Depth" strategy:
- MPC Keyless Technology: Splits your private key into shares so there is no single point of failure for hackers to steal. Learn more about MPC here.
- Proof of Liabilities: Ensures that the funds we say we hold are actually there on the blockchain. Read our Proof of Liabilities.
- Withdrawal Protection: The final layer that protects you (the human) when digital security isn’t enough.
Q: Will this delay my trading or exchanging within the app?
A: No. Withdrawal Protection is designed to stop funds from leaving the SwissBorg ecosystem (withdrawals). You can still swap and manage your portfolio within the app as normal, so your investment strategy remains agile while your assets remain secure.
Q: What happens if network fees increase during the delay period for my withdrawal?
A: When you use Withdrawal Protection, the fee is calculated and displayed at the moment you schedule the transaction. However, in rare cases, if network costs rise significantly before the delay period ends, the transaction may fail. If this happens, your funds are safe: the transaction simply cancels, the funds remain in your account, and you can initiate the withdrawal again. You learn more about Crypto Withdrawal Fees here.
Q: Can I send crypto by Smart Send when Withdrawal Protection is activated?
A: Yes you can. Smart Send is internal to SwissBorg and requires the recipient to have completed KYC.
Q: Can I cancel a withdrawal that has been delayed by Withdrawal Protection?
A: Yes, you can cancel a withdrawal while it is pending during the delay period. You will find the pending transaction in the relevant asset wallet or in your notification center. Simply tap on the transaction to open the details screen, where you can choose to cancel withdrawal. Please note, that if you cancel and then decide to withdraw again, the Withdrawal Protection timer will be reset.
Q: Can I use Withdrawal Protection when I go on vacation?
A: Yes. If you want to lock your account while you are away (e.g., for two weeks), you can activate Withdrawal Protection with a 14-day delay (for example) and then immediately toggle it off. This triggers the mandatory cooldown timer. During your trip, your funds remain locked and safe. When you return and the timer expires, the protection will automatically disable, restoring instant access to your withdrawals.
At SwissBorg, nothing is more important than the safety of our community.
We are committed to shielding you from every threat - digital or physical - because your peace of mind is the true measure of our success.
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